'Powerful' Legco Would Have Nixed Metropolis Plan: CE
"); jQuery("#212 h3").html("

"); });
2021-10-07 HKT 11:03
Chief Executive Carrie Lam said on Thursday that changes to the Legislative Council under new electoral arrangements mean now is the right time to put forward her plan to develop the northern part of Hong Kong into a new metropolis.
Appearing on a radio phone-in programme, Lam was asked why she didn’t propose the Northern Metropolis at the beginning of her term.
The CE said it would have been very difficult to get Legco approval earlier.
"In the past, the Legislative Council had great power. The council passed bills, amended laws and approved funding requests. I'll give you an example. We encountered a lot of difficulties when we introduced the co-location arrangement at the express rail station. It almost led to social unrest," she said.
"But recently, Legco quietly approved a co-location arrangement at Huanggang port. It’s obviously different. As Hong Kong’s situation is so good, I should make the most of the momentum and push ahead with the Northern Metropolis plan. If I did it three years ago, I would’ve been badly battered."
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more